Signum Bank says it's now eyeing further expansion into the European market, aiming to become fully MICA compliant by the first quarter of 2025.
Sygnum Bank, a Swiss crypto bank with $4.5 billion in client assets, has announced it has reached profitability after a huge spike in crypto trading volumes in the first half of 2024.
In a July 25 statement, Sygnum reported a two-fold increase in crypto spot trading volumes and a 500% rise in crypto derivatives trading in H1 2024 compared to the prior year period. Loan volume also spiked 360%.
Sygnum Chief Client Officer Martin Burgherr attributed the gains to the recently approved spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds in the United States.
